Orebodies intersects disseminated to near massive sulphides with base metal mineralization at McFaulds Lake "Ring Of Fire" property



    TORONTO, Oct. 1 /CNW/ - Canadian Orebodies Inc. (TSXV: CO) ("Orebodies")
is pleased to announce the discovery of an important base metal sulphide
occurrence at its Caribou property located 35km southeast of the WSR-Metallex
VDS (volcanogenic derived sulphide) discovery, announced May 22, 2008. The
property consisting of 8 claims, 2,048 hectares, is owned 100% by Orebodies
(subject to a 2% NSR, 1% each being held by Noront Resources and Temex
Resources).

    
                             SUMMARY OF DRILLING
                             -------------------

    TABLE 1 - CARIBOU PROPERTY TARGET 2-16

    -------------------------------------------------------------------------
     Hole   North-  East- North- Easting  Azimuth   Dip  Length  Observations
      No.    ing    ing    ing    (UTM)  (degrees) (Deg-  (m)
            local  local  (UTM)                    rees)
             (m)    (m)
    -------------------------------------------------------------------------
    CO-08-04  200N  65W  547396  5880012  80        -50  141  70.6-88.3 diss.
                                          (grid               iron, zinc
                                          east)               sulphides

                                                              88.3-88.7 near
                                                              massive iron,
                                                              zinc sulphides
    -------------------------------------------------------------------------
    CO-08-05  200N  65W  547396  5880012  80        -70  213  101.6-170.3
                                          (grid               diss. iron,
                                          east)               copper
                                                              sulphides

                                                              170.3-180.0
                                                              semi-near
                                                              massive iron,
                                                              copper
                                                              sulphides

                                                              180.0-188.1
                                                              diss. iron
                                                              copper
                                                              sulphides
    -------------------------------------------------------------------------
    

    Hole No. CO-08-04 was designed to test an Airborne conductor (2-16) that
was traced horizontally for 600 meters in a north-south direction. The hole
intersected disseminated to near massive sulphides containing disseminated
sphalerite (zinc) from 70.7 to 88.7 (18.1) meters with iron sulphides (pyrite
and pyrrhotite).
    Hole No. CO-08-05 drilled beneath hole CO-08-04, intersected the sulphide
zone from 101.6 to 188.0 (86.4) meters, this time containing minor
chalcopyrite (copper) with iron sulphides (pyrite and pyrrhotite).
    The holes at the Caribou Property were drilled to test an EM conductor
with coincident magnetic signature. A portion of this conductor was surveyed
on the ground with Max Min II EM where two distinct lenses were observed being
150m to 200m in length. The holes were drilled in the northern lens and
further drilling of both EM conductors along with more detailed ground
geophysics to better outline the lenses (including mise-a-la-masse resistivity
methods) is recommended.
    Notwithstanding the foregoing, visible observations are estimates only
and pending assay results may not confirm visual observations in whole or in
part. The dip and strike of the zone have not yet been determined and the true
width cannot be determined at this time.
    Drilling has been temporarily suspended as the company awaits assay
results and has arranged further financing to proceed with more detailed drill
testing on the Caribou Property. However, drilling still continues on
Orebodies joint venture properties in conjunction with partners MacDonald
Mines and Temex Resources, as announced Sept 24, 2008.
    A second property, the Crossroads Property, was also diamond drilled to
test Airborne EM anomalies 8-1 and 8-2, with two holes totalling 367.4 meters.

    
    TABLE 2 - CROSSROADS PROPERTY TARGETS 8-1, 8-2 AND 8-3

    -------------------------------------------------------------------------
     Hole   North-  East- North- Easting  Azimuth   Dip  Length  Observations
      No.    ing    ing    ing    (UTM)  (degrees) (Deg-  (m)
            local  local  (UTM)                    rees)
             (m)    (m)
    -------------------------------------------------------------------------
    CO-08-01  20N  400E  539146  5888505  190      -50    185  97.5-101.0
                                          (grid                diss. - semi
                                          south)               massive iron
                                                               sulphides

                                                               101.0-101.7
                                                               semi-near
                                                               massive iron
                                                               sulphides

                                                               101.7-114.0
                                                               diss. iron
                                                               sulphides
    -------------------------------------------------------------------------
    CO-08-02  95N  900E  539951  5890574  355      -50  182.4  No significant
                                          (grid                mineralization
                                          north)
    -------------------------------------------------------------------------
    CO-08-03  10N  300E  539386  5890337  348      -50/  18.0  Hole abandoned
                                          (grid    -60         in overburden
                                          north)
    -------------------------------------------------------------------------
    

    Hole No. CO-08-01 tested Anomaly 8.1 and encountered 16.5 meters of
disseminated to near massive iron sulphides. Hole No. CO-08-02 intersected no
significant mineralization in Anomaly 8-2. A third hole testing Anomaly 8-3
was lost in overburden at 18.0 meters.
    Notwithstanding the foregoing, visible observations are estimates only
and pending assay results may not confirm visual observations in whole or in
part. The dip and strike of the zone have not yet been determined and the true
width cannot be determined at this time.
    Samples are currently being prepared for shipping to Activation
Laboratories (an independent to the Company), in Thunder Bay, where strict
quality control procedures are in place that will be administered by an
independent Qualified Person.
    Gordon McKinnon, Orebodies President and CEO stated "We are very
encouraged by the results of our drilling to date. The presence of sulphides
observed by our geologists is very positive and could be of substantial
significance to the McFaulds area if the assay results returned are
favourable".
    The work program onsite is being directed under contract to R.S.
Middleton (P.Eng.) who is an independent consultant to the Company and a
"qualified person" (as such term is defined in National Instrument 43-101).
R.S. Middleton has verified the data disclosed in this press release.

    Forward-Looking Information:

    Some of the statements and information contained herein may be
forward-looking information which involves known and unknown risk and
uncertainties, including statements respecting the visual potential of
mineralization and resources and subsequent recommended work programs. Without
limitation, statements regarding potential mineralization and resources,
proposed exploration activities, and future plans and objectives of Orebodies
are forward looking statements that involve various degrees of risk. The
following are important factors that could cause Orebodies actual results to
differ materially from those expressed or implied by such forward looking
statements: risk inherent in mineral exploration, risks associated with
development, construction and mining operations, changes in the world wide
price of mineral commodities, general market conditions and the uncertainty of
access to additional capital. In particular, there can be no assurance that
the visual potential for mineralization will be confirmed.

    
    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this press release.
    





For further information:

For further information: Gordon McKinnon, President & CEO, Canadian
Orebodies Inc., (705) 268-9000, www.canadianorebodies.com

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